Whoever, being a president, director, officer, or manager of any firm, association, or corporation engaged in commerce as a common carrier, or whoever, being an employee of such common carrier riding in or upon any railroad car, motortruck, steamboat, vessel, aircraft or other vehicle of such carrier moving in interstate commerce, embezzles, steals, abstracts, or willfully misapplies, or willfully permits to be misapplied, any of the moneys, funds, credits, securities, property, or assets of such firm, association, or corporation arising or accruing from, or used in, such commerce, in whole or in part, or willfully or knowingly converts the same to his own use or to the use of another, shall be fined under this title or imprisoned not more than ten years, or both.

The offense shall be deemed to have been committed not only in the district where the violation first occurred but also in any district in which the defendant may have taken or had possession of such moneys, funds, credits, securities, property or assets.

A judgment of conviction or acquittal on the merits under the laws of any State shall be a bar to any prosecution hereunder for the same act or acts.

Section consolidates a portion of section
409 with section
412, both of title 18, U.S.C., 1940 ed. Other provisions of said section
409 are incorporated in sections
659 and
2117 of this title.

Definitive language in section
412 of title
18, U.S.C., 1940 ed., as to offense being a felony was deleted to conform with section
1 of this title. (See reviser’s note under section
550 of this title.)

Words “imprisoned” was substituted for “confined in the penitentiary” in section
412 of title
18, U.S.C., 1940 ed., in view of power of Attorney General under section
4082 of this title.

Minimum punishment provision “less than one year nor” in section
412 of title
18, U.S.C., 1940 ed., was omitted for reasons in reviser’s note under section
203 of this title.

Maximum fine of $5,000 was substituted for minimum fine of $500 in section
412 of title
18, U.S.C., 1940 ed., as being more consonant with the scheme of penalties and offenses provided by Congress for most sections in this chapter.

Sentence in section
412 of title
18, U.S.C., 1940 ed., “Nothing in this section shall be held to take away or impair the jurisdiction of the several courts under the laws thereof;”, was omitted in view of section
3231 of this title.

Changes were made in phraseology.

Amendments

1994—Pub. L. 103–322substituted “fined under this title” for “fined not more than $5,000” in first par.

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